Once a company that attracted investment from venture capital firms across the world - including the Chan Zuckerberg Initiative - it has now entered insolvency.
Less than two years ago, it was valued at $22bn and was one of the most familiar brand names on the planet, thanks to a shirt sponsorship deal with India's cricket team. Today, though, Byju's is fighting for its life. Money latest: What happens when you go bankrupt? A number of shareholders have written down the value of their stake in the business to almost zero and the company, which still has 14,000 employees, is now facing insolvency proceedings.
It also signed a deal with Argentinian footballing superstar Lionel Messi - reportedly worth between $5-7m - to become brand ambassador for its social impact arm Education For All and was a major sponsor for the 2022 football World Cup in Qatar. Yet these high-profile sponsorships - another being Bollywood A-lister Shah Rukh Khan - came at a price. By some estimates, at the end of 2022, Byju's was spending a third of its revenues on marketing and sponsorship.
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